November 2017
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Latest - PENSIONS

  • Cashflow modelling should be compulsory for retirement advice, says Prestwood

    12 November 2017

    Prestwood is calling for the government to make cashflow modelling compulsory for retirement advice in the UK, with the launch of a new White Paper.    Prestwood says all firms providing any kind of retirement advice or marketing should use some form of cashflow modelling in an effort to protect consumers from mis-selling and...

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  • Canada Life launches 5 passive life and pension funds

    9 November 2017

    Canada Life has launched five new low-cost life and pension funds as part of its first “large-scale push” into the passive funds sector. The Canlife Passive Portfolio funds of funds have low Ongoing Charges Figures of between 0.20% and 0.24%. Alongside these, Canada Life is also launching 11 new links to single strategy passive...

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  • Working retirees cautioned re pension contributions

    8 November 2017

    As five million over 50s say they plan to continue working after retirement, this could see them fall foul of tax laws, new research by Retirement Advantage highlights. Research carried out on over 50s retirement plans showed that 49% want to continue working in some capacity after reaching retirement, with 43% planning to work part-time,...

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  • Passing away of Mike Morrison

    7 November 2017

    We are sad to report the passing away of Mike Morrison, head of Technical at AJ Bell. Mike was a regular commentator and columnist for Professional Paraplanner.  Mike was well known, liked and respected within the industry that he worked in for almost 30 years through roles at Winterthur Life, AXA Wealth before joining AJ...

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  • HMRC pension freedoms tax repayments ‘tip of the iceberg’

    6 November 2017

    HM Revenue & Customs has paid back nearly £37 million in over-taxed pension withdrawals over the last three months, in what has been dubbed “the tip of the iceberg” by pension provider AJ Bell. The latest statistics published by HMRC revealed that it handed over £36.9 million in overpaid tax on flexible pension payments between...

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  • Drawdown squeezing out annuities even further FCA figures show

    6 November 2017

    The latest FCA product sales data has shown a dramatic drop in annuity sales, while drawdown products have soared since the introduction of the pension freedoms.  In the second quarter of 2017, annuities accounted for less than a quarter of all decumulation product sales, while income drawdown accounted for 76% of sales. A total...

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  • Workplace pensions are minefield for millennials

    6 November 2017

    Workplace pensions remain a minefield for many millennials, according to new research by Aegon. The research revealed that nearly a quarter of the respondents aged 18-34 years old with a workplace pension had no idea how much their employer pays into their workplace pension and 41% said they were unaware that they get tax...

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  • Technical: How to borrow safely from pension schemes

    6 November 2017

    Limits to how much individuals can contribute to pension funds like SIPPs mean the need to borrowing cash for property purchase, for example, has risen. Martin Tilley, director of Technical Services, Dentons Pension Management looks at the technical issues for scheme members. With historical reductions in the headline annual allowance and further reductions imposed...

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